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The following comparative cost information is available for Pronghorn Limited: FIFO Average Average Inventory $228,300 233,300 Cost of Goods Sold $732,500 717,900 Pronghorn's current assets

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The following comparative cost information is available for Pronghorn Limited: FIFO Average Average Inventory $228,300 233,300 Cost of Goods Sold $732,500 717,900 Pronghorn's current assets are $435.000, exclusive of inventory. Its current liabilities are $336,000. (a) Calculate Pronghor's inventory turnover ratio assuming the company uses (1) FIFO and (2) average cost to determine the cost of the ending inventory. (Round answers to 1 decimal place, ed. 15.2) FIFO Average Inventory Turnover times times eTextbook and Media FIFO Average Average Inventory $228,300 233,300 Cost of Goods Sold $732,500 717.900 Pronghor's current assets are 5435,000, exclusive of inventory.Its corrent liabilities are $336,000. (a) Calculate Pronghor's inventory turnover ratio assuming the company uses (1) FIFO and (2) average cost to determine the cost of the ending inventory. (Round answers to 1 decimal place, es. 15.2) FIFO Average Inventory Turnover times times

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